The global polycarbonate market is expected to reach USD 25.37 billion by 2024, according to a new report by Grand View Research, Inc. Regulatory policies are encouraging automotive OEMs to use plastics, as a means of reducing vehicular weight & improving fuel efficiency, to play a prominent role in driving growth. Polycarbonate is a completely recyclable polymer and is therefore favored as a substitute to PVC particularly in medical devices. In comparison, PC resins offer greater tensile strength & flexural modulus meaning they can be easily processed and even blended with other resins such as styrenic copolymers and PBT.
In the recent past, regulations aimed at reducing plastics wastage has encouraged the role of recycling. PC resins being completely recyclable are expected to benefit from such regulations, and in turn, ease up global supply constraints.
Electrical & electronics and transportation remained dominant application markets, and the segments together accounted for nearly half of the overall consumption in 2015. In the electronics sector, polycarbonate is widely used for producing power housings, connectors, household appliances and battery boxes. Furthermore, the resin’s optical clarity has led to its usage in headlamps, face shields, laminates, and windshields.
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Further key findings from the report suggest:
- The global polycarbonate market demand exceeded 4.30 million tons in 2015 and is expected to reach 7.72 million tons by 2024, growing at a CAGR of 6.9% from 2016 to 2024
- Asia Pacific offer tremendous opportunities for manufacturers as resin requirements from automotive and construction industries expected to rise significantly as a result of rising investments in passenger car production and public infrastructure
- China emerged as the leading consumer in Asia Pacific and accounted for nearly 60% of the regional volume in 2015
- Against the backdrop of slowing GDP growth, China offers opportunities in the construction sector. New housing starts and resuming civil projects as a result of monetary policy restructuring and liquidity easing will be the primary demand driving factor
- Global polycarbonate trade balance stood at a deficit of USD 2.84 billion signifying concentration of production activities. The U.S. was the leading exporter with trade value estimated at USD 1.22 billion in 2015.
- In contrast, China was the largest importer of PC resins with trade value estimated at nearly USD 4.0 billion in 2015. During the same period, Chinese exports were valued at USD 650 million.
- Diversifying operational presence remains a key factor for producers. Establishing commercial supply agreements with end-users such as automotive OEMs and electronics manufacturers remains crucial for a stable consumer base
- Key companies operating in the industry include SABIC, Bayer, Lotte Chemicals, Mitsubishi, Chi Mei Corp., RTP Co., LG Chem, and Idemitsu Kosan
Grand View Research has segmented the polycarbonate market on the basis application and region:
Global Polycarbonate Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2024)
- Electrical & Electronics
- Consumer Goods
- Optical Media
- Medical Devices
Global Polycarbonate Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2024)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-polycarbonate-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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